Florida condo owners have insurance that is very different from homeowners and renters insurance. Even though your homeowner association carries insurance for the building, bridges, pools and the area the owners use like the lobby, you would think that you are protected too. Look closely at the sentence though, their policy covers the building, not your condo or your belongings.

Think about your condo unit as a separate entity. You didn’t purchase the building. You purchased your condo unit, so you must protect it and what is inside. You also must protect people that visit your condo unit in case they are injured. That is the reason you must purchase Condominium insurance. Your insurance will also cover damage to the building or common area that you or a visitor cause by accident or by negligence.

Condo insurance is similar to homeowners insurance in that it covers your property, liability for injuries and additional living expenses in case you cannot live in your condo due to a fire, storm damage, etc. Your hotel and meal charges are covered. Take inventory of your belongings and property using photos or video. Save receipts for new items, photograph serial numbers on your electronics and other items. Save the photos or video online and/or give a copy to someone who doesn’t live in your condo building.

When you need assistance choosing what policy is best for your condo insurance,Budget Bi Riteis there for you.

It’s exciting when family or friends you have not seen for a while comes or a visit. You take the care to make sure the house is in tip top shape, all the bathrooms are cleaned, the beds with new linens, carpets and floors vacuumed and mopped and there is plenty of food in the fridge.

Its great to enjoy time with your loved ones. Being a tour guide, a few nights out to dinner and enjoying the visit, but what we do not want to think about is if someone gets hurt in your home or on your property? What if they accidentally cause damage your home?

Your homeowners insurance should cover these situations. Liability insurance covers injuries to visitors, their medical bills and your legal bills if they decide to sue you. Your home structure insurance also covers damages like fire.

If you live in a condo, first check to see if your allowed to have visitors, for how long, if and when they are allowed to use the facilities and how long they can park their car. Your condo insurance may cover any injuries to your guests and damage they may cause to the facilities, the open area like the lobby and your condo itself.

Contact us today with any questions about your home or condo insurance.